Suning.com major shareholder plans significant stake reduction

Hangzhou Haoyue Enterprise Management Co., Ltd. (Hangzhou Haoyue), a significant shareholder in Suning.com, plans to reduce its stake by up to 262,631,578 shares. This represents 2.85% of the company's total share capital after excluding shares in the dedicated repurchase account. The divestment, driven by Hangzhou Haoyue's business arrangements, will occur through a combination of concentrated bidding and block trading methods.

The concentrated bidding will involve up to 92,043,737 shares (1% of the total share capital after excluding repurchased shares), while block trading will account for up to 170,587,841 shares (1.85% of the total share capital after excluding repurchased shares). The share reduction period is set for three months, from October 22, 2025, to January 20, 2026, following a 15-trading-day window after the pre-disclosure announcement.

As of the announcement date, Hangzhou Haoyue holds 1,861,076,927 ordinary shares in Suning.com, equating to 20.09% of the total share capital. The pricing for the reduction will be determined by market prices at the time of the transactions. Suning.com clarifies that Hangzhou Haoyue is not its controlling shareholder or actual controller, and this reduction will not alter the company's control structure or impact its ongoing operations.